Toronto, Ontario– is pleased to report assay results from the nine-hole surface drilling element of the Phase 1 exploration program, and the final two holes of the Phase 1 underground drilling program, at the Aureus East Gold Project located in Nova Scotia, Canada.
We have confirmed the presence of multiple high-grade gold horizons, identified gold hosted in the host sediment rocks, significantly increased the size of the mineralized system, with an exceptional 100% success rate of intersecting gold mineralization in all drill holes and developed our knowledge of the system.
As discussed in further detail below, the execution of the Phase 1 underground and surface drilling program provided Aurelius an opportunity to successfully confirm new quartz veins at depth, investigate and confirm the potential for gold mineralization in the host sediment rocks and to successfully expand the influence of the limbs.
Aurelius realized early success from the Pad 1 drilling, as Hole AE-20-003 encountered over 30 new mineral horizons and extended mineralization to below 900m from surface , and very significantly, intersected 0.5m at 21 g/t gold in the floor of the drift, previously excavated for the 2018 bulk sample undertaken by previous operators.
Jeremy Niemi, P.Geo, Vice President, Exploration, commented, “Our Phase 1 program, included a surface drilling campaign designed to complement the hinge focused underground drilling by stretching the gold mineralization well to the south in near vertical concentrated veins.
The Phase 2 drill program at Aureus East commenced in April 2021 and is ongoing, with the underground drill focussing on defining the hinge zones and the surface rig drilling south limbs and specific hinge zones.
In conjunction with the drilling, surface mapping and sampling will seek additional new gold veins parallel to the main zone and to the north and south.
Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia.
Sample preparation occurs at ALS in Moncton where samples are weighed, dried, crushing one kilogram to 70 percent less than two millimeters and then pulverized to create a one-kilogram sample with 85 percent less than seventy-five microns.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions , changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property.
By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company’s proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius’ public filings under Aurelius’ SEDAR profile at www.sedar.com.